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Bank of Ireland sees 40% increase in fraudulent text and call cases compared with last month

Consumers are being warned about a combined fake text and phone call fraud tactic.

BANK OF IRELAND has seen the number of fraudulent text message and phone call cases increase by around 40% in the last two weeks when compared with the month previous. 

The bank is today warning customers about a tactic being used by fraudsters to dupe people into handing over their bank details. 

It said fraudsters are doubling down on their efforts to access customers’ accounts by first contacting them by text and following up with phone calls to convince them to hand over their details. 

Once they gain access to the accounts, funds are then being transferred into money-mule accounts or spent immediately on expensive items including electrical goods, according to Bank of Ireland. 

During the last two weeks, the number of combined fraudulent text message and phone call cases detected by Bank of Ireland’s fraud prevention team has increased by about 40% when compared with the previous month. 

Customers are being asked to look out for Bank of Ireland-branded texts saying to expect a call from the bank, Bank of Ireland-branded texts giving a fake number to call and An Post or HSE-branded fake texts that then lead to phishing websites. 

“Fraudsters are becoming increasingly persistent in their attempts to steal people’s money. Fraudulent text messages are now being followed up by phone calls from fraudsters to convince people to hand over their details,” Edel McDermott, head of fraud at Bank of Ireland, said. 

“Be vigilant if you receive a phone call from someone claiming to be from your bank, credit card company or another company you may trust – even if you get a text first that tells you to expect the call. No matter what story you are told, do not give away your card, account, or banking details. End the call immediately and do not call the number back if you are suspicious,” McDermott said. 

“And remember, do not click on links or call any numbers you receive in a text message. You can call your bank using the number on the back of your card or a listed phone number”. 

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